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India’s June oil imports rise 10 pct year-on-year – trade

Thursday, 12 July 2018 | 00:00

India imported 4.8 million barrels per day (bpd) of oil in June, an increase of 10 percent from a year earlier, according to data from shipping and industry sources, with the top three suppliers Iraq, Saudi Arabia and Iran making up nearly half of imports.

In June, India imported about 592,800 bpd of Iranian oil, a decline of about 16 percent from May, as refiners began cutting oil purchases under pressure from U.S. sanctions.

The reduction in purchases from Iran cut overall imports from the Middle East, with the region accounting for 62.8 percent of total purchases in June compared to 72.8 percent in May, data showed. The sources declined to be identified.

The share of Latin American crude imports to India increased marginally, while African imports made up 12.4 percent of overall purchases up from 7.9 percent in May.

The following table shows India’s imports by country. The imports include condensate. Volumes are in ‘000 bpd.

 Region/Coun      June     May   Pct chg    June    Pct chg   Jan-June    Jan-June   Pct chg
 try              2018    2018  mth /mth    2017     yr/yr        2018        2017     yr/yr
 Latam                                                                                      
 Brazil           98.1    96.6       1.6   169.0      -41.9       66.8       107.3     -37.8
 Ecuador           0.0     0.0       --      0.0       --          0.0        16.4    -100.0
 Mexico          357.9   208.2      71.9    72.1      396.3      223.1       133.7      66.9
 Venezuela       309.0   342.0      -9.6   488.9      -36.8      321.2       416.5     -22.9
 Argentina        21.2     0.0       --      0.0       --          3.5         0.0       --
 TOTAL           786.2   646.7      21.6   729.9        7.7      614.6       673.9      -8.8
                                                                                        
 Asia                                                                                   
 Brunei            0.0    35.0    -100.0    18.4     -100.0       18.9        36.6     -48.5
 Malaysia         71.6    53.3      34.4    81.2      -11.8       74.1        71.4       3.9
 Australia         0.0     0.0       --      0.0       --          7.9         0.0       --
 TOTAL            71.6    88.3     -18.8    99.6      -28.1      100.9       108.0      -6.5
                                                                                        
 Middle East                                                                            
 Oman             66.7    32.4     106.1    16.8      296.7      121.1         5.6    2068.0
 Iran            592.8   705.2     -15.9   495.9       19.5      585.0       539.5       8.4
 Iraq            910.4  1007.5      -9.6   725.8       25.4     1039.1       847.2      22.7
 Qatar            50.5    46.3       9.1    93.2      -45.8       55.0        74.7     -26.3
 Kuwait          234.9   234.0       0.4   148.1       58.6      276.0       189.1      45.9
 S. Arabia       893.0   734.6      21.6   662.6       34.8      787.1       759.1       3.7
 U.A.E.          281.8   404.0     -30.3   416.7      -32.4      267.7       312.5     -14.3
 Dubai             0.0     0.0       --      0.0       --          2.7         8.2     -66.6
 Yemen             0.0     0.0       --      0.0       --         11.5         0.0       --
 TOTAL          3030.1  3164.0      -4.2  2559.1       18.4     3145.3      2735.9      15.0
                                                                                        
 Europe                                                                                 
 North sea         0.0     0.0       --      0.0       --          3.1         0.0       --
 TOTAL             0.0     0.0       --      0.0       --          3.1         0.0       --
                                                                                        
 C.I.S.                                                                                 
 Azerbaijan      102.4    66.3      54.4    33.0      209.9       48.7        28.0      73.8
 Kazakhstan       33.0     0.0       --     65.8      -49.8       16.2        38.4     -57.7
 Russia          102.1    32.8     210.8   102.1        0.0       33.8        58.7     -42.4
 TOTAL           237.5    99.1     139.5   200.9       18.2       98.7       125.1     -21.1
                                                                                        
 Africa                                                                                 
 Nigeria         282.3   180.8      56.2   345.5      -18.3      312.1       399.4     -21.8
 Angola          129.2    60.6     113.2   258.7      -50.1      157.1       128.6      22.2
 Cameroon          0.0     0.0       --      0.0       --          5.6         0.0       --
 Congo             0.0     0.0       --     19.2     -100.0        3.1         3.2      -3.9
 Chad              0.0    30.2    -100.0     0.0       --         15.8        11.0      43.9
 Egypt            51.0    51.6      -1.3    55.7       -8.5       46.6        39.9      16.5
 Gabon            31.6     0.0       --      0.0       --         16.2         0.0       --
 Ghana             0.0     0.0       --      0.0       --          5.6         0.0       --
 Sudan            40.5    20.5      97.4    43.1       -6.0       21.3        23.7     -10.1
 Eq. Guinea        0.0     0.0       --      0.0       --         11.1         5.7      93.1
 Algeria          31.0     0.0       --     31.1       -0.3       10.2        43.2     -76.3
 Libya            32.5     0.0       --      0.0       --         11.0         0.0       --
 TOTAL           598.1   343.7      74.0   753.3      -20.6      615.6       654.7      -6.0
                                                                                        
 CANADA            0.0     0.0       --     34.3     -100.0        0.0        11.4    -100.0
 USA              96.6     0.0       --      0.0       --         37.4         0.0       --
 TOTAL ALL      4820.2  4341.8      11.0  4377.1       10.1     4615.7      4308.8       7.1

NOTE: The total may not tally as numbers in tonnes have been rounded off after converting them into barrels using a conversion factor of 7.3 barrels per tonne and dividing by the number of days. Numbers for the previous months may have been revised.

The data includes some oil tankers that arrived in May but discharged in June. It may also include some parcels that arrived in June and discharged in July.
Source: Reuters (Reporting by Nidhi Verma; Editing by Christian Schmollinger)

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